تقييمات الطلاب
( 5 من 5 )
١ تقييمات
فيديو شرح Schedules of Cost of Goods Manufactured Cost of Goods Sold Cost Accounting CPA Exam BAR CMA ضمن كورس محاسبة التكاليف شرح قناة Farhat Lectures. The # 1 CPA & Accounting Courses، الفديو رقم 8 مجانى معتمد اونلاين
How do you prepare a schedule of cost of goods manufactured and cost of goods sold? In this cost and managerial accounting lecture, Professor Farhat explains the difference between retail and manufacturing accounting and walks through calculating direct materials used, total manufacturing cost, cost of goods manufactured, and cost of goods sold with practical examples. CPA and CMA candidates and accounting students will find this essential BAR exam material.
Try it free at farhatlectures.com — interactive exercises, lectures, simulations, cases, multiple choice, and AI tools for CPA, CMA, EA and students.
Video Timeline & Key Concepts:
0:00 — Introduction
1:25 — Cost of goods sold vs. cost of goods manufactured
2:34 — Calculating direct materials used
3:42 — Calculating total manufacturing cost
4:08 — Calculating cost of goods manufactured
6:38 — Worked example: from materials to cost of goods sold
Frequently Asked Questions:
How does manufacturing accounting differ from retail?
Retailers simply use purchases for cost of goods sold, while manufacturers must calculate cost of goods manufactured, which combines direct materials, direct labor, and manufacturing overhead.
How do you calculate direct materials used?
Direct materials used equals beginning raw materials inventory plus purchases minus ending raw materials inventory.
How is cost of goods manufactured calculated?
Cost of goods manufactured equals beginning work in process inventory plus total manufacturing cost minus ending work in process inventory.
How is cost of goods sold determined for a manufacturer?
Cost of goods sold equals beginning finished goods inventory plus cost of goods manufactured minus ending finished goods inventory.
Is this tested on the CPA exam?
Yes. The schedules of cost of goods manufactured and sold are tested in the BAR section and on the CMA exam.
#CPAexam #CMAexam #enrolledagentexam #accountingcourses #collegecourses #courses #BAR #costofgoodsmanufactured #COGS #costaccounting #ProfessorFarhat